EOS Price Update: EOS/USD intense pressure on vital support could refresh $2.4

  • EOS is groped in acute selling pressure after breaking the trendline support.
  • The technical picture deteriorates as bears eye the return to $2.4.

EOS is has broken below the shallow but steadily upward sloping trendline on Wednesday. The Asia session is characterized by a growing selling influence. EOS is among the extremely battered cryptos, posting losses of more than 3.5% on the day.

The 4-hour chart for EOS/USD shows the price doddering at $2.62 following a retreat from $2.87 (December high). The 50 SMA did little to stop the declines but stands in the way of upward movement. A further upward movement will encounter more resistance at the 100 SMA, holding ground at $2.8.

The RSI is correcting in the direction of the oversold region. It follows a consolidative period around 50. The same downward momentum is emphasized by the MACD. The indicator signal is gradually sloping downwards in the negative zone after jumping to highs around +0.0577.

EOS/USD 4-hour chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC/USD consolidation lags triangle breakout

Bitcoin remained under pressure during the entire weekend. The attempts made to stay above $7,200 support failed, leaving to the path of least resist ace to be below $7,000. Bitcoin’s immediate upside is limited by the 50 SMA on the 2H chart.

More Bitcoin News

Ethereum Price Update: ETH/USD defends $140 support yet again

Ethereum is largely unchanged compared to the levels towards the end of last week. The pressure oozing from the bears continued across the weekend session. Besides action beyond $145 remained limited.

More Ethereum News

Ripple Price Analysis: XRP/USD spirals in freshly reignited downward momentum

Ripple has ignited the bearish momentum breaking the weekend-long support at $0.2160. The losses come after an attempt to break out from the descending channel resistance failed.

More Ripple News

Cardano’s IOHK celebrates 120 staking pulls less than 24 hours after testnet launch

The research firm in charge of developing Cardano, a major cryptocurrency, IOHK was delighted to announce the fantastic performance of the newly launched testnet.

More Cryptocurrencies News


Bitcoin Weekly Forecast: It's all about whales again

On the cryptocurrency market, regulators, governments and central bankers and other big names like that are inferior to whales when it comes to generating trends and price movements.

Read the weekly forecast